Chinas new digital currency, called a digital renminbi or digital yuan, will be firmly controlled by the Chinese communist central bank and be used to spread its surveillance of the economy starting with this years Winter Olympics. Thats the outlook as the worlds largest commnist country begins its transition to a digital wallet cellphone app carrying digital renminbi from leather wallets containing paper notes and coins. Like todays digital transactions, payments in digital yuan would move instantaneously but without middlemen like payment service providers. The only entity between vendor and purchaser would be the Peoples Bank of China. China launched...